Farmmi closes $3M public offering at $0.25 per share

Farmmi, Inc. (NASDAQ: FAMI), a China-based agriculture products supplier and U.S. logistics and supply chain services provider, has closed an underwritten public offering, raising gross proceeds of approximately $3.0 million before deducting underwriting fees and other expenses.

The offering, which closed June 30, 2026, consisted of 7,000,000 Class A ordinary shares priced at $0.25 per share, along with pre-funded warrants to purchase 5,000,000 additional ordinary shares at $0.24999 each. The pre-funded warrants are immediately exercisable and carry an exercise price of $0.00001 per warrant.

Aegis Capital Corp. served as the sole book-running manager for the offering. The company also granted Aegis Capital Corp. a 45-day option to purchase up to 1,800,000 additional ordinary shares at the public offering price, less underwriting discounts, solely to cover any over-allotments.

Farmmi said it intends to use the net proceeds for general corporate purposes and working capital.

The offering was made under a shelf registration statement on Form F-3 previously filed with and declared effective by the U.S. Securities and Exchange Commission on June 27, 2024.

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